This indicator cannot be renamed - it will not show on the chart and alert until renamed back to the default name.Indicator Objectives
Primary : To draw a synthetic Ask line offset from the default Bid line.
Secondary : Change the style of the synthetic Ask line, default Ask and Bid Lines
Spread OptionsSpread: Offset only
Spread: Default only
Spread: Offset & Default
Why Use This Indicator ?
I use this indicator on a daily basis to visually monitor a static spread relative to price action with reference to a spread betting* account because I do not use the account charts.
* in the UK spread betting accounts are tax free accounts
- Other than changing style of the Ask and Bid lines - a by product of the primary objective - if you have no clear idea why you would use it, then you do not need another indicator.
Note: The indicator does not set the chart to line - chart set to line for clarity of spread illustrationSpread: Offset only
Default Bid: 1.13458
Spread Offset = 6 points
Synthetic Ask = 1.13458 + 0.00006 = 1.13464
Spread: Default only
Default Bid = 1.13470
Default Spread = 2 points
Default Ask = 1.13470 + 0.00002 = 1.13472
Spead: Offset & Default
Default Bid = 1.13450
Spread Offset = 6 points
Synthetic Ask = 1.13450 + 0.00006 = 1.13456
Default Bid = 1.3450
Default Spread = 1 point
Default Ask = 1.13450 + 0.00001 = 1.13451
